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PBR » Topics » Sales Agreements

This excerpt taken from the PBR 20-F filed Jun 30, 2005.

Sales Agreements

 

PFL sells Eligible Products purchased from us or our affiliates though the following agreements:

 

  •  

Offtake Contracts with Citibank, N.A, as Offtaker, pursuant to which PFL agreed to deliver and sell, and Citibank N.A. agreed to accept and purchase, during each quarterly delivery period, Eligible Products with a value equal to at least 1.1 times the amounts scheduled to be paid in respect of the Series 2001 and 2003

 

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Table of Contents
 

Senior Trust Certificates on the payment date immediately following the end of such quarterly delivery period.

 

  •   A Product Sale Agreement with PAI, which may purchase Eligible Products from time to time from PFL and sell them to buyers primarily in the United States and its territories; and

 

  •   Sales to other purchasers of Eligible Products in the open market.

 

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